the conditions that make jobs more or less likely Governor Mitchell E Daniels Jr State of the State Address January 18 2005 Indiana Economic Development Corporation The IEDC is a publicprivate partnership governed by a 12 member board chaired by Governor Mitch Daniels ID: 716775
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Slide1
5/27/2011
“Government does not create jobs; it only creates
the conditions that make jobs more or less likely.”
Governor Mitchell E. Daniels, Jr.
State of the State Address, January 18, 2005Slide2
Indiana Economic Development Corporation
The IEDC is a public-private partnership governed by a 12 member board chaired by Governor Mitch Daniels.
The IEDC is focused exclusively on economic development and has incorporated all state entities with economic development responsibilities.
5/27/2011
2Slide3
2011 Business Development Regional Map
5/27/2011
Confidential - Draft
3Slide4
Building the ‘Best Sandbox’
AAA Credit Rating
Financial Stability
Indiana has the lowest business costs in the Midwest and is one of the top 10 lowest cost locations in the U.S.
Forbes
(Oct. 2010).
Leading the Nation in Job Growth
Per capita Indiana was 7
th
in the nation in private sector job growth for 2010
5/27/2011Slide5
Executives Rank Indiana Best
A Midwest leader and 16th nationally
Best and Worst States for Business 2010
Survey of more than 650 chief executivesSlide6
CNBC Names Indiana
Top State for Business
Fourth nationally for overall “business friendliness”
5/27/2011Slide7
10TH LOWEST BUSINESS COSTS
Source: Forbes
magazine, October 2010
Indiana has the 10
th
lowest
business
costs in the nation, based on labor,
energy and taxes.Slide8
October, 2010
1
st
in the Midwest
and 10
th
nationally
Illinois (23rd), Kentucky (19th),
Michigan (17th), Ohio(46
th
)
Best in Midwest for Low TaxesSlide9
2010 In Review
Record Breaking Year
200
Projects
23,017
Projected Job Commitments
$23.02
Projected Average Wage
$4.38 Billion in Projected Capital Investment
5/27/2011Slide10
Private Sector Job Projections Year-to-Date
As of 5/23/11Slide11
Private Sector Investment Projections Year-to-Date
As of 5/23/11Slide12
Total Competitive Projects Year-to-Date
As of 5/23/11Slide13
Hoosier
Average
Wage
As of 5/23/11Slide14
Direct state incentives include tax credits, training grants and infrastructure assistance
Tax credits are performance-based linked to IEDC certification of new jobs
Average time of return on investment: approximately 2 years
Low Cost of Incentives Yields Quicker Return
5/27/2011
As of
5/23/11Slide15
Business Incentives
EDGE
– Tax Credit for hiring; competitive project.HBI
– Tax Credit for investment; competitive project.
SEF
– Training Grant; competitive and non-competitive projects.
IDGF – Community Grant; competitive project.Slide16
2011 Legislative Summary
Balanced Budget
Corporate Income Tax Reduction
Reduced over 4 years from 8.5% to 6.5%, beginning in 2012.
No New TaxesSlide17
Reasons for Success
Assembled experienced economic development team
Streamlined processes
MARKETABLE PRODUCT
5/27/2011Slide18
IEDC Contacts
Chad Pittman
Executive Vice President
cpittman@iedc.in.gov
317-233-4459
Mindy Kenworthy
Central Region Director
Mkenworthy@iedc.in.gov
317-234-4088
David Behr
North Central Region Director
dbehr@iedc.in.gov
574-288-6834
Jim Staton
Northwest Region Director
jstaton@iedc.in.gov
219-644-3694
Charlie Sparks
Vice President
csparks@iedc.in.gov
317-233-5122
Brook Steed
Northeast Region Director
bsteed@iedc.in.gov
260-436-3000
Trevor Lane
Southeast Region Director
tlane@iedc.in.gov
812-346-1895
Dorrie LoBue
Southwest Region Director
dlobue@iedc.in.gov
812-492-4415